Transcripts For ALJAZ Counting 20240704

Whats behind the searching price of the digital coins and is the crypt type code . Is the industry it cant come by. The person slipped into a session late last year. Many people as businesses struggling with a high cost of living, the concept of policy is bustling for its electrical future against a bleak economic backdrop. The Spring Budget of 2024 was seen as an opportunity for tom said jeremy hunt to offer the dates of some sweetness, concepts of government as training labor in the polls, but is a 2nd tax caught in full months enough to shift the political dial. But well get to that with a guest and just a moment. First, this report from harry fulton, london to britains government. Conservatives trading by double digits in the polls. This months budget needed to be a Momentum Shift to a vote to get to from 8 to the 6 employee. National insurance will be cost by another to be from 10 percent to a headline measure was a Costume National insurance contributions estimated to save the average employee nearly 600. 00 a year. Its a vacation, bye talk to you know, position later. Part of the policy ending a tax break to those domiciled tax purposes. Outside of the u. K. Just the Prime Minister went to so that the voters analysis showed the overall tax bud already at its highest rate since world war 2 would continue to grow. One post budget po, so late, the extended sleep, i guess it wasnt unexpected. That was something so by placing as a child benefit, why im conflict story. But quite frankly, i think the present time and i need to get out now by the news just for the space that hes using to promote yourself during a difficult time for the challenges that face. And the government is also being criticism from the governments fiscal watch talk to im clear on potentially competing commitments to increase some public spending for reducing taxes and the size of the national debt. We know the governments plans, the National Insurance. We know the governments plans but your Energy Taxation in 5 years time. Im but what we know about governments plans for spending on Public Services runs out off the march of next year by march next year. The most observers expect the conservatives to be out of power. Labor is projected to win a comfortable majority, even in office though labor will have constraints, especially now. The conservatives have spent money. Labor was intending to spend elsewhere on this National Insurance cost, which is 1. 00 less leading think tank says its time. A bold reproach was taken means either borrowing or raising tax to invest detected, but you cannot cut your way out for crisis. And as to what we need instead is for them to spend that way out of the crisis. And there were ways to achieve that so long as they are books themselves. In with all baterri fiscal rules, sol suggest the National Health service and the cost of living talk though does concerns. Territory. Labor will look to occupy when the campaign profit gets underway, very close it out of the or if accounting, the cost london, which 1. 00 is now from london is for the night. Shes chief economist at global data. Nothing but great to have you with us here on cancelling the costs for. So what do you make of this budget . Weve got a 2nd cut in months to National Insurance types of paid by what . Cuz but how much difference when it actually make to work . Cuz to the economy and, and ultimately to the conservatives, this stage inflation is coming down. So really income suit should start to improve um, but that has been a very tight position for a walk is for some time now. And so the tax scotts in a, in a way help, but to me its a, its a, its looking in the wrong direction. Its this whole budget has been um, dominated as the previous budgets and recent years by this discussion of, of, of fiscal rules, which seems really more of a full cycle to me. But then thats, thats a, a constraint that the government has, as almost on necessarily imposed themselves not to say that there shouldnt be any kind of a fiscal rules and management. But the type of fiscal focusing on im trying to bring down jet that to be uh over a 5 year period. Oh, by a 5 year period. Its a, its a sort of, um, the wrong stopping place instead of focusing on, on trying to bring down that to g d p. The question should be okay, well how can we improve g d p instead of instead of being handed this sort of fiscal head from which, which the government has spent on kind of National Insurance contribution costs and, and some, some improvement attempts to improve productivity in the in the, in a, just the question should be kind of, can we, can we go farther than just trying to, to, to rehash these, these, um these, these attempts to, to improve productivity and look at the site the, the, the real spending per capita is still going to be fully in a backdrop, the way that there is already a diet needful is spending in injustice outside the cation across, across the board, and that, and actually create the type of environment in which businesses could, could flourish. So i think thats good to jump in and use that same green with the list. And how is report that we should will present should be spending more rather than costing back, despite the spiraling that the government should have got itself into this. Theres not the sort of social feeling prophecy which is almost institutionalized at this stage. And the bank of england is a part of that as well. Where by the, the offices budget responsibility will hand hand to the government a week, break full cost. And then the government will say, oh, well, we need to to do something to, to constrain the deficit in that context. Both of them recognizing but there is spending, but that needs to be done the most obviously within, within the Health Sector because theyre, theyre a 6400000 people that are waiting for, for treatments and the number of long term 6 people that count, well in the government is the flow of having to pay the wells bad. Theyll all these people has has risen very, very rapidly over the course of the costs the past few years. So. So making that spending to res per capita investment in, in health care, which, which makes, makes absolute sense. And its a complete false economy to, to, to fail to meet that spends the week of general election coming up some point this. Yeah. Do think the condo position policy, the labor policy, which many projects will get into power. Well take that approach to the economy. I think given the recent history, the worry is the, the, the kind of the shop was sent through markets by the, the, the attempt of trust them costs and Just Transition in a, in a completely inept way, in my opinion, to a, to a gross policy rather than a debt focused policy that has, has now put policy makers on the back foot. And then now worrying about, you know, they have to be physically sensible again and, and, and trying to, to, to stick to these, these fiscal rules of before late. But yet sense of how it is. You mean that, that thats the direction that is, is going to to, to one fold. It seems unlikely that theyll, that will come out and kind of say anything that would result in that sense. But i think my expectation is given, given the sort of the clear spending that needs to be done, the then might be some transition in the nature of fiscal rules, for instance, taking investment out. So that kind of fiscal rule of over can a 5 year period so that the government can make necessary investments affect without feeling is getting up against it. So just briefly for a, for are we still the u. K. Economy growing by 0. 2 percent in january, that was off to it, sank into a 2nd recession at the end of last year. Is it turning a corner . Is the outlet looking price a that lead the leading indicates a spark and about 3 to 6 months outlook look the best for you can actually across across europe. So thats, thats a, a positive sign, especially inflation is, is coming down relatively quickly, but wage growth is, has remained a reasonably kind of sticky and it will, it will probably start to, to, to decelerate. Wage by wages will probably start to, to be separate. But what that leaves us with is the part of the cycle where well wage price stops to, to, to come through. And essentially, the part of the cycle way of the walking population walk is actually get the share of, of the, of the pi a over the pulse going over the pulse cycle. That stuff tends to be in a kind of a capitalist economy when that happens. So thats, thats a, thats, thats a kind of a, a positive, but negative, unfortunately is the policy you still fault. You type a base in terms of, of the school and in terms of monetary policy. And so thats a drag against that happiness by a burgundy to speak to thanks so much for taking the time to join us here on counting the cost. The soaring inflation, the address of the shortage of foreign currency, all hits in egypt. The comic crisis has been lessons by the will on garza. Im the middle east nation has come place to defaulting on it. Thats if it doesnt make fun not to reforms to attract investors. So the government has delivered its biggest of a height and Interest Rates and allowed its currency to float. These measures have released more than 40000000000. 00 and investments and loans from the United Arab Emirates on the International Monetary fund as well. Could be on the way to, i guess, some great reports. Gibson pounds has had a problem for years and not many egyptians wanted. They prefer to have us dollars. Many believe that currency is a lot more stable. But digits, reserves of dollars, have them running out. And the gap between official and black Market Exchange rates has been huge. Now the government is allowing the egyptian pound to trade freely on the Foreign Exchange market. Its part of a deal with the International Monetary fund to lend egypt around 8000000000. 00. Observer safety regulation has been made possible in part by a recent announcement by the u. A. E. To invest 35000000. 00 developing the russel hit by peninsula on egypt, mediterranean coast, and the book. And then we can, might have an approximate rate of 45. 00 to 50. 00 egyptian pounds to the dollar after getting money for the rest. Ill take my project as well as funds from the am. If im the u. P in union. Now we can achieve a Flexible Exchange rate determined by demand egypt as the value its currency 3 times since 2022 bought has maintained controls to fix its Exchange Rate is decision is the 1st time the currency will be determined by the free market. Its a Long Time Coming of egypt shall depos anticipate is and investors have been putting pressure on the government to actually do this. To narrow the divergence between the official and black market rates. Within minutes of the announcement, the jeep sion pound sign against the us dollar to a record low. Many egyptian say its making life unbearable. Is everything in our life link to the us dollar. What happened to the egyptian pound is worthless now . A 10000. 00 egyptian pound salary is no longer enough for a family in a month. In egypt, economic crisis made was by the korean of ours pandemic and russias invasion of ukraine has been further exacerbated by the war. Wrong cause of say much. So the mass has agreed to accelerate the loan process. The most direct impact is from the switch canal. They use to collect 700000000. 00 per month from revenues. Now traffic is down by 5560 percent bring the egyptian pound may be welcomed by international investors. But addictions are likely to face more hardship, at least in the short term. Victoria gates in b l g 0. So counting the cost. Well, heres a quick look at all the countries im a has approved loans for in the past year, packets to ongoing 3000000000 dollars that help prevent the country defaulting on its debt. So been soaring, inflation, 2900000000. 00 went to shoreline cause to rescue as bosses economy. The government implemented spending got some tax hikes to secure enough support. And earlier this year, the, im ethically to 84700000000. 00 line for argentina and facing that has reached a 160 percent. And 40 percent of the population are living in poverty. Well, lets go now to egypt and speak to met at nasa. He is a professor of economics at kyra and denial. University is great to have you with us. They are messed 8000000000 lane to egypt. Its huge. Why has it on the u. A been so quick to aid egypt . Potential recovery. I am a good day and thank you. Thank you very much for having me on the show and 1st of hold and, and we have to repeat the what, what has been repeated in the media that it has to be to, to, to fame and to meet the fans because of what is happening in the region, and its very important to see it from this a segment. Were using this lens because, you know, egypt is a very important to the user and for the stability. And also to counter some of the integrations to europe, and the 2 other part of the, of the, the why cheat. And they made it to the union. And also because egypt is suffering now that more than ever, especially after a week, a scathing crises, thats the sort of thing from the could be 19 and then to creating a russian war. And now as you guys are, as at work, is this, is this going to be the rescue thats going to save it. So oh, is it still at risk of failing . Yeah, of course we, we, we dont have actually the risk of failure. We had a problem was and, and issues we stick with the tea and was wanted to retire, think was wanted to retire. Think we fiscal a certainty that we are looking for. Were actually, we can continue in the hyper installation, which is the 1st enemy to the people. After containing the hype installation, we can restore that remittance, has them come to restore the cash flow of the capital flows from a wrote. Most of the cash flows are re, um, essential and for the, for these options, the economy actually our and and ratio. Our savings issue of saving graces from 6 to 8 percent of the to be and it is, it is not enough to sustain any a growth, obviously to be from 6 to 8 percent that is anticipated. So unless we feel these gap was a forwarding investments, like hopefully for the nice the invest, so i look at and not in that i or, or any hope, plenty, and we cannot survive a we such, there are things and such a new challenge of egypt for the 1st time has had its pound valued by the free market. It lost more than 60 percent of the value within hours of flotation. That was disastrous for many people in egypt. What is the likelihood of it stabilizing . Well, actually, i cannot call it a freeflow. Think we cannot have officials even though to contribute themselves said some countries, a luxury, the general tab and the for useful conclusion. We can be lucky if we have the soft pig editing and the software and its liquidity in order to be solved in order to have to have some flexibility. So when, whenever we receive a good but we, we have good buffers to defend. Uh, the uh, new rates and we can have such as the valuation and division this time was very important because you know, the gap between the thought of the market and do for sure. Great. It was huge. And so, so we had to go. Busy this way and also to, to, to counter the, a foreign country crunch, which was, am i going to get . Because actually, and it passed through to the installation in a very a and a bad way. You know, and most of our inputs, a lot of strategic. So we dont have any elastic inputs, we dont have any in this dispute, you think was an input, know 75 percent of that theres a goods and are all materials and, and actually we import like top of what we explore. Thats why we have this is a chronic disease. This is a disease that we, we must look at the differences between difference. Its actually external and internal difference. It, Everything Else is out of symptoms. The kind of crunch and even the hyper installation, it is a, they are all a symptoms to this, to, for the, a very specific a disease that we all know the big elephant in the root, which is a, the differences between differences. We keep feeling these differences up by having a mega projects by having the White Elephant projects. And we kept a few example for long and we kept a few of them actually by having the external dec reaching 165. 00 a be junior as dollars. So were became very near to a solvens issue. We didnt tap before. Okay. Me such a sense of adoptions, a living in poverty. It is a huge number. How long will they start feeling some of the benefits of these for phones . And i believe they were suffering from the hyper and pollution very badly so we can monitor each i think and the loosened control. Ready of deals and control on the us dollar when a try to a tackle both sides of the installation, the supply side, dripping and the demand side demand side by absorbing the excess liquidity and supply side by a v link interest of goods. As i said, we had the backlog of goods in the thoughts that we cannot afford to, to get into is out of the availability of the stock. So the shortage of Income Office at began reflecting directly and passed through life need to and inflation and having the and installation reaching adults like 40 percent a year. And this is the form of what they appreciated what i mean. So yeah, so, and i believe that in the short term and see what they might suffer even more because of the, you know, some, some goods where in posted in a, in a, with using the old and controlled great. The searching for adult book. Now it will move a little bit. Yeah, so this is, this may be all set up a little bit by having a more comment that is available in the market. So that the, uh, the market step lives again, was some sort of competition. Competition that makes prices a little bit lower than that, and i thought we do have to leave it that but great to speak to. Thanks for joining us. Thank you. Know young people in south africa are a bearing the brunt of the countrys highest Unemployment Rate on record. 40 percent of people under the age of 34 hours of work. Wait a minute, has moved from the Northwest Province one and 3. So the africans are unemployed. And those between the ages of 15 and city full make up 40 percent of those without jobs. Thats 4600000 people club on the, on the to milwaukee and hes friends live in, grew up in the township of my philosophy in the northwest provence. If not had steady work for years i was i team has to has what i thought it definitely with a bit of i to cross and see in the offline from you to me. So i kind of understand a bit of coding and software development. But finding employment has been quite difficult. I think the last thing i meant i had was sometime last year for me. So if i have to leave for me, it means so its difficult for me because i dont know if i may. So i dont want to clarify this, i did find out something to have me this moment pushing me tease according to the world bank so that africa is one of the highest levels of any quality in the world. With more than a half of the population living in poverty under worsening economies making their lives even more difficult. The ruling Power Outages crumbling, infrastructure and corruption of negatively affected investment and economic growth. This is an Election Year for south africa during its manifesto. Launch the governing African National congress promised to create 2 and a half 1000000 jobs over the next 5 years. Critics say, despite being in power for 3 decades, they and see hasnt managed the economy effectively. And even more people now want employed. The government is encouraging people to open their own businesses, especially those living in rural and outside of an area is meant to do. But tyler says hes been trying to stuff his own business, but hasnt had much luck. No help from government. Officials, others blame governments. They use, its not easy to get, find these things because the collapse is a good fit to just just you on the whole. So thats a little bit challenge. While these young men say they need to on an income to support themselves and their families, they say daily work is just as important for the dignity to meet them in the ultra 0 for counting the costs north was province of africa. Bitcoin lost more than 60 percent of its value in 2022. The crypto currency market shrunk by move into trillion. Dollars that yeah, the bullets how bits claimed was pronounced dead by many observers. Bonds, the king of crypto is once again, winning over invest as breaking earlier records when the industry was booming last week just to kind of say its a high of move in 72000. 00. As previous record was just under 69000. 00 in november 2021. Price is crashed to below 202022. 00 of to several major Crypto Companies went bankrupt to. Well, joining us out from dubai is jamil as my, the chief analyst at c, a g t secret. Thats an online trading brokerage that great to have you with is a bit content quite the journey as it does. But more about why weve had this research and its now this time is very hard. We go for successive days, the boyfriend is reaching out for subject 3000. 00 us dollars as of the past 24 hours. Ready generally speaking, a couple of people was very much back and get over the fresh job. We more than double the price over the past 6 months and essentially is 2 different types of play. Again, number one back each year, products by me to get approved. That was what left the ready to start in october time. A big car was a friday just about 13000 list on this. That means you have products from us as securities. Brinkley likes that. That essentially meant the institutional money. Ready is 1st serious invest the money i bank covered. So it was starting to not be attracted to its a conversation that was a major drawn. Secondly, we have all of that, which is a technical step. But that such 2nd phase, and the one that ive seen is reducing the matching corner is going to be a mistake, elation and then you have a some time demand back to play. Right . And i was subsidy isnt biased lock yet. So the less demand, the most of my job, a big one of the less of finding out if this happened does take place thats wasnt pushing prices as well. Ok. I said that the big coin was originally created to bypass existing financial institutions. And yet now we have the arrival of Institutional Investors hoping to fuel its rise. The best complete address, the big one used to be seen as a millennial investors. Some somebody used to be saying this for generation. See what youre seeing now, what the institutional money these are the real awesome my interest in other real financial buyers that dominate the financial last stage. Not big ones, very much saying that weve been here for 10 years or so. Were still the number here just by what the people like, and thats what you see, what the institution some money. And just because the groups are currencies that will bring it up in flies in dollars just and the best one on the Exchange Trader products that is just very serious products. And that shows the institutional money, which is fine for the major bunch of vice. They are now starting to lean into groups of guns as well. So with all this excitement surrounding that point, is it a good idea for the average investor to put the money into it . If you look at the china, the china, they say a picture says 1000 words by Trading Balance is biased, not to but of course. Ready not to say to be every day, personal history of the everyday person that you never invest. Anything more, the group exemption, but thats loose because on the, remind me bring what you saw was the very point in 2023. We had this in 2021, but on the 61 percent of our company im sure you mentioned in the interest that was. Ready previously, about of 2021 and there was more than a game in 2022 before that right . That resumed into 2 bond like 2020 rates. So as well, any investments, any type of investment aspect as well. What comes up might come down and what investments id really like to move and even the price directions are right now. Yes. Really. For the price me, the more than 20000. 00 less dollars, i would just the price wont change while fleeting. Now the signals that suffice into the market, but of course the Seasons Change and things that they have pets to put in what youve had to lose great advice html of much money. Thanks for joining us on counting the cost. And that is also for this week, but remember you can always get in touch with as far as the west side is the hash tag h a c t c. When need to office an e mail counseling. The cost of the out is there a dot net is our address on this engine will view online at onto 0 dot com full slash ctc. Thatll take you straight to our page with individual reports, links, and all the fact episodes feeds of chops up on the flat set from us at counting the costs. And now im nora kyle and from the whole team here, thanks for joining us. The News Analysis era is now the stripped from it switches and left with a toxic legacy where they usually forget people from lake point. When you think that the people in power meet, the inhabitants still fighting for justice. Jesse, wait and took, evaluate and think. And for the money it went home. I didnt think they even considered us again. The black people, the people, the sacrifice them on the ship is home to survivors of losses. Earthquakes, inter kit, a floating hotel, its features, rooms at dining, hall and entertainment facilities. Social workers offer lessons to president , still recovering from their or to 4 to 5 year old school note is scared of entering your building after the earthquake destroyed her home. Luckily, we have the c a we are leaving on a ship to build a small world. Hey, we our family and eventually they have something to look forward to. This Amusement Park reopened giving minute here for the last is us last returning to normal. Theyre playing last thing, but this trauma is never far away. Critical debate, pony farmers are angry. People are starving and we actually have to be experts all good because we money to buy informed opinions. The relevance of the Security Council is diminishing with every passing day. Frank assessments for addition to the highest level theyve been using games for the political economy, service and course the rivals inside story. On al jazeera of the, investigating the use and abuse of power across the globe. Now to sierra, the a trucks arrive safely in northern dogs. If for the 1st time in months, hundreds of thousands of palestinians said to be on the brink of starvation the but im a clock this is out is, are lots and also coming and is really attack on a pallet and central gaza kills at least 11 palestinians children are among the in due to being taken to our view and says to don as the worlds largest, but most difficult things is